Risk, Uncertainty and Asset Prices
收藏NBER2006-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w12248
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We identify the relative importance of changes in the conditional variance of fundamentals (which we call "uncertainty") and changes in risk aversion ("risk" for short) in the determination of the term structure, equity prices and risk premiums. Theoretically, we introduce persistent time-varying
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美国国家经济研究局创建时间：
2006-05-01
